B.C. protects 220 more affordable homes

The B. C. government has secured 220 affordable homes through its Rental Protection Fund, reinforcing housing stability for families and individuals amid a growing affordability crisis. Minister of Housing Ravi Kahlon stated that the initiative aims to prevent displacement and support local communities. The fund has allocated over $26 million to non-profit organizations for property acquisitions, with homes being 44.

2% lower than local market rates. Notable acquisitions include properties in Chilliwack, Fort St. John, and Vancouver, which cater to diverse needs. Tenants, like Vicki Rylander from Penticton, expressed gratitude for the security provided by the fund, emphasizing its significance for those on limited incomes. The initiative has protected nearly 1,600 homes since its inception in 2023, with a target of 2,000 homes set to be surpassed ahead of schedule.

This effort is part of a larger $19-billion housing investment by the B. C. government, which has delivered nearly 92,000 homes since 2017. The Rental Protection Fund represents a collaborative effort to maintain affordable housing through community ownership.